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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Saudi Arabia HVAC Market Outlook
The Saudi Arabia HVAC market is driven by the growing demand from residential building construction. The industry is further expected to grow at a CAGR of 5.1% in the forecast period of 2024-2032.
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Upgradation Section forms the Largest Sub-Sector in the Saudi Arabia HVAC Industry
Saudi Arabia's HVAC demand is expected to rise rapidly, thanks to rising construction activity in the country's residential and industrial sectors. During the forecast period, extreme climatic conditions in Saudi Arabia, changing habits, and a growing number of government measures aimed at reforming the country's oil-dependent economy are all expected to fuel the demand for HVAC systems. The central area of Saudi Arabia, which is home to some of the country's largest and most populated cities, including the capital, Riyadh, has historically contributed the most revenue to the Saudi Arabia HVAC industry. Previously, the upgradation or replacement section of the service segment had the largest share of the Saudi Arabia HVAC industry. Increased incorporation of HVAC systems in smart devices, as well as the demand for energy-efficient HVAC systems, are expected to drive market growth.
HVAC: Industry Definition and Segmentations
The infrastructure of indoor and vehicular environmental comfort is known as heating, ventilation, and air conditioning (HVAC). Its aim is to provide adequate thermal comfort and indoor air quality. HVAC device architecture is a branch of mechanical engineering that is focused on thermodynamics, fluid mechanics, and heat transfer concepts.
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The HVAC industry can be divided by equipment into:
- Heating
- Heat Pumps
- Furnaces
- Unitary Heating
- Ventilation
- Air-handling Units
- Air Filters and Purifiers
- Ventilation Fans
- Dehumidifiers and Humidifiers
- Others
- Cooling
- Unitary Air Conditioners
- VRF Systems
- Chillers
- Coolers
- Cooling Towers
- Others
It may be classified on the basis of implementation type as follows:
- New Constructions
- Retrofits
The end uses for HVAC industry include:
- Residential
- Commercial
- Industrial
Technological Advancements Bolstering the Market Growth of HVAC in Saudi Arabia
The HVAC-R industry in Saudi Arabia is expected to benefit significantly from upcoming commercial ventures such as airports, high-rise hotels, and investments in luxury homes and villas in the residential sector. The rise in demand from the country's commercial sector is largely due to technical advancements and inventions such as district cooling, solar air conditioning systems, and HVAC systems that incorporate new technologies. The COVID-19 pandemic has had a negative effect on both the demand and supply sides of the Saudi Arabia HVAC industry. The building industry is facing problems as a result of the government-induced lockdown, including a reduction in project financing, the closure of construction sites, and the postponement of existing projects due to a lack of materials, equipment, and labourers, as well as economic instability.
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Key Industry Players in the Saudi Arabia HVAC Market
The report gives a detailed analysis of the following key players in the Saudi Arabia HVAC market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Zamil Air Conditioners
- AirTech Riyadh
- Green Air Electro-Mechanical Contracting Company
- LG Electronics Inc.
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Equipment |
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| Breakup by Implementation Type |
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| Breakup by End Use |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The Saudi Arabia HVAC market is projected to grow at a CAGR of 5.1% between 2024 and 2032.
The major market drivers include increasing construction activities, the rising prevalence of extreme weather conditions due to rapid climate change, and the surging upgradation and replacement activities of HVAC.
The key trends propelling the market growth are the surging infrastructural development activities, the robust growth of the commercial sector, and technological advancements and innovations in HVAC systems.
The several equipment of HVAC considered in the market report are heating, ventilation, and cooling.
The major installation types of HVAC considered in the market report are new constructions and retrofits.
The different end uses of HVAC include residential, commercial, and industrial.
The leading players in this market are Zamil Air Conditioners, AirTech Riyadh, Green Air Electro-Mechanical Contracting Company, and LG Electronics Inc., amongst others.
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